Renewable energy – today and tomorrow
OX2 is driving the transition towards a sustainable energy sector by developing, building, financing and managing wind power installations in particular. The operation does, however, also involve other renewable energy sources.
In 2015, wind power in Sweden produced 16.5 TWh of electricity (11,5 TWh in 2014) and had an installed capacity of about 6,025 MW. It represents about 10 percent of the electricity use in Sweden. Sweden is the third largest country in Europe in terms of installed capacity, behind Germany and UK.
At present, the focus of our operation is onshore, large-scale wind power, since a combination of the lowest production costs and large volume potential is creating the right financial opportunities for us and our investors. OX2 is currently responsible for a significant proportion of the large-scale onshore wind power installed in the Nordic region.
New project areas
In parallel with wind power, OX2 is involved in other renewable technologies, and is constantly looking for commercial projects and business opportunities which can further contribute to making the energy sector sustainable in the long term. Example of areas we are interested in include offshore wind power, solar energy, bio energy and geo energy.
Offshore wind power
In 1997, OX2 established Sweden’s first offshore wind farm with five 550 kW wind turbines at Bockstigen on the Island of Gotland. Offshore wind power is one of the power sources predicted to grow most, and as the technology and financing of offshore wind power improves – 8 MW turbines are already operating abroad – new developments may be considered in the near future. This is particularly the case in areas where the opportunity to build onshore wind power is limited, such as the UK, which has a limited land area and a large population.
OX2 aims to help as many people as possible to achieve renewable energy self-sufficiency. Solar energy one of the most exciting areas in this effort, and its strong growth is second only to wind across the world, not least in Germany, China, Japan, Italy and USA. Also »oil-heavy« nations like Saudi-Arabia have started investing in solar energy. Over the past two years, the cost of producing solar energy has fallen significantly, but it still has a bit to go before it reaches the lower and more attractive levels of on shore wind power.
Bio energy is produced from biofuel, which comes in the form of forestry products, fuel crops, peat and waste. OX2 is always looking for interesting projects which can replace fossil fuels. By combining the knowledge and experience we have obtained from the expansion of wind power with cutting-edge expertise in the bio energy area, OX2 aims to establish itself as a commercial bio energy partner and project realiser. Steady growth is expected in this segment, not least in the transport sector which has yet to face up to the challenge. At the same time, new technology is being developed which will offer new opportunities.
Geo energy as a renewable power source was commercialised at an early stage in Sweden. Today, Sweden has the largest number of installations per capita in the world, in a market where continued growth is anticipated. The trend is towards increasingly large-scale storage systems for heating and cooling. Enstar AB is part of the OX2 Group, with more than 30 years’ total experience of the area and a focus on larger and more complex plants.